VI Markets review – Is it a real or copycat broker?
VI Markets trading company looks very promising at first glance. With a representative website and trusted software, traders might think it’s a good choice. However, digging under the surface you can find many irregularities.
If you don’t want to be a victim in your trading career, read this VI Markets review carefully.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Version International General Trading and Contracting Ltd|
|Supported Platforms:||MT4 / MT5|
|Cryptocurrencies:||Yes – BCH, DSH, LTC|
|Types of Assets:||Forex, Commodities, Indices, Shares, Cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Is VI Markets Broker a Scam Broker?
The broker represents itself as licensed by the FCA and FSCA. However, the owner of VI Markets is Version International General Trading and Contracting Ltd. This is a company based in Kuwait that doesn’t have domestic regulations. But also no FCA or any other Tier 1 regulator license. For instance BaFin or ASIC.
As we can see from their disclaimer, they are just a promoter of a regulated company One Financial Markets. But hidden under the surface you can find the real disclaimer of the VI Markets scam. Once you understand what to look for, you can easily determine if the company is legit. For that reason, you can read also our Roi Republic and Victoria Coins reviews to learn more about avoiding scams.
VI Markets Platforms – A Software Comparison
Generally speaking, VI Markets is copying everything. From website to trading platform access. But if you will get what they advertise is questionable. VI Markets promotes Meta Trader 4 and Meta Trader 5 software. Those are highly trusted third-party options. With many advanced tools for successful trading, it became a leader in the industry.
However, VI Markets runs a suspicious business. So, you can’t confirm if they are providing this platform unless you make a deposit. Instead, you can find a Tier 1 regulated broker and start a business with them safely.
What Financial Instruments Does The Platform Include?
All trading instruments advertised are coming from 5 different groups. Those are:
Forex USD/SGD, EUR/HKD, NZD/JPY
- Commodities gold, platinum, silver
- Indices S&P 500, Dow Jones, Nikkei 225
- Shares Amazon, Apple, Tesla
- Cryptocurrencies BTC, LTC, XRP
Considering the fact that this broker is pretending to be legit, take that with reserve. VI Markets trading scam is designed to trick traders. Whether it’s with instruments, software or trading conditions. Everything is created with one goal. To take your money and vanish.
VI Markets Countries Of Service
VI Markets reviews are another key point. There are none for almost 9 years in the business. Which is highly suspicious.
However, by registering we found that they are mostly scamming traders from:
- United States
- United Kingdom
All rich countries are targeted. Thus, this broker doesn’t have the authorization to provide services anywhere. Therefore, before investing any money it’s better to double-check everything.
Account Options Offered by VI Markets
In general, trading companies provide different account types to attract traders in depositing more. With licensed brokers, those are not necessary because they make money through spreads and commissions.
On the other hand, VI Markets broker offers only one account type. This is another way of pretending to be legit. Traders can only choose the Standard account type with a minimum deposit of $250.
Can a Trader Use a Demo Account?
Even though a licensed entity offers a demo account, we can’t confirm the same for the VI Markets trading company. Indeed, they advertise a demo account.
But once you try to download VI Markets MT4 or VI Markets MT5 you get redirected. Practically, you download the platform of a regulated company. But if you will trade there, you don’t know.
Terms of Service for VI Markets
Primarily, if you take a look at the broker’s website you will realize it’s not secured. Therefore, nothing is trusted there. Additionally, they are misleading traders with their terms and conditions. As for funding options, they accept:
- Debit/Credit cards
- Crypto transfers
With such a shady broker, the best option is not to invest at all. But if you do, do it with a card because you can get a chargeback. If you are using hardly-traceable crypto, you are making an anonymous transaction. That way you send money directly to their pockets. In fact, that’s exactly what you want to avoid.
Leverage, Spreads and Fees
Any licensed broker is transparent regarding trading conditions. They provide all details about leverage, spreads and commissions. With this in mind, traders can choose wisely if those conditions are acceptable.
However, that’s not the case with the VI Markets scam. They are completely mysterious on that topic. So, the only way of testing them is by risking your own money. But even if you are willing to throw away $250, you are not going to give your details to the scammer. Because they will call you relentlessly to get you into depositing more money.
Scammed by a VI Markets Broker? – We Want To Hear Your Story.
If you were scammed by this broker, let us know. The first step in finding a solution is by sharing your experience. That way you can warn other traders about this illicit scam. But also you can get in touch with our specialized fund recovery team.
Being a victim of a scam is hard. But giving away your hard-earned money is even harder. In fact, you are possibly one chargeback away from getting your money.
What Is the Chargeback Procedure?
If you are making a debit/credit card purchase, you can get a chargeback. This is a standard procedure if the client or merchant reports fraudulent activity.
However, you can only do that in the first 540 days. This means that you don’t have much time to waste. It takes time for the bank to review the request and then proceed with it. Don’t wait any longer and book your first free consultation now.
What Is VI Markets?
VI Markets is a copycat of a legitimate trading company operating with all valid licenses.
Is VI Markets Broker a Scam Broker?
Absolutely. They are misleading traders and using someone else’s credibility for fraudulent activities.
Is VI Markets Available in the United States or the UK?
Yes. Both countries are one of the main targeted areas of this Kuwait-based swindler.
Does VI Markets Offer a Demo Account?
Most likely no. Because they only copied the website of a legitimate company.